Vipshop Holdings Limited (VIPS) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, VIPS crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
Over the past four weeks, VIPS has gained 5.7%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account VIPS's positive earnings estimate revisions. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch VIPS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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